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Stocks to watch: Sembcorp Marine, Hyflux
THE following companies saw new developments that may affect trading of their shares on Tuesday:
Sembcorp Marine Limited (SembMarine): SembMarine's wholly owned Brazilian subsidiary has won a US$145 million contract. In a statement to the Singapore Exchange on Monday, the firm said it expects a positive contribution to its earnings from the contract, barring any unforeseen circumstances. SembMarine's shares edged up 0.64 per cent to close at S$1.575. CIMB Research maintained its "add" call with a target price of S$1.87. "Contract wins and divesting of delayed rigs could be a key catalyst," it said.
Hyflux Limited: Mainboard-listed Hyflux on Monday said SEPCOIII Electric Power Construction Corporation has been ordered to pay its subsidiary, Hydrochem, US$16.1 million following an arbitration dispute. The order was issued by the tribunal on Aug 31. Hyflux's shares closed at S$0.485 on Monday.